Current Account in Luxembourg

Luxembourg Current Account (EUR bn) | Economic News & Forecasts

Luxembourg - Current Account (billions of Euros)

The Covid-19 pandemic and associated containment measures hammered the economy at the end of the first quarter, and worse is to come in the second quarter. Data indicates a drop in economic activity of 25% in 23 March–17 April, covering the first month of lockdown. Moreover, both consumer and business sentiment collapsed to over one-decade lows in April, while the unemployment rate rose to the highest level since February 2015 in the same month. Since mid-April, many restrictions are being lifted to reboot the economy, while the government announced on 20 May a new set of fiscal measures worth around EUR 800 million (around 1.3% of GDP), on top of the 16.4% of GDP package previously put forward. Among others, the additional measures include structural partial unemployment benefits for affected businesses and grants to firms in sectors which have not yet been allowed to resume activity, such as the tourism and hospitality sectors.

Luxembourg - Current Account (EUR bn) Data

2014   2015   2016   2017   2018  
Current Account Balance (EUR bn)2.6  2.6  2.7  2.8  2.9  

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Luxembourg Current Account (EUR bn) Chart


Luxembourg Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Luxembourg and FocusEconomics calculations.

Luxembourg Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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